Pelosi Pushes Impeachment Vote: Washington, Wall Street News - Jan. 11

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Here's what you need to know before the market opens.

House Democrats are preparing for an impeachment vote this week, with just nine days left before the inauguration of President-elect Joe Biden. House Speaker Nancy Pelosi, in a letter to Democratic colleagues in the House, said that they will move forward with an impeachment vote unless the 25th Amendment is invoked by Vice President Mike Pence and the Cabinet to remove President Trump from office.

This comes after President Donald Trump was permanently suspended from Twitter over the weekend. The President is also suspended from Facebook and Instagram until at least the end of his term and he’s unable to post or was suspended from Twitch, Reddit, YouTube, Snapchat, and TikTok.

Social media stocks, in premarket trading, are lower in premarket trading following the actions taken against President Trump’s accounts.

Parler, which was a popular social media app for conservatives and supporters of President Trump was taken offline over the weekend following Amazon stopping its web hosting for the service and the removal of the app from Google and Apple app stores.

Futures premarket are pointing to an open in the red to start off trading for the week and Bitcoin, following a record high of $42,0000, is seeing its worst selloff to March.